Casablanca, September 2018: Amethis is pleased to announce the successful sale of its participation in Compagnie Marocaine de Goutte à goutte et de Pompage (CMGP) to Development Partners International (DPI).
Created in 1995, CMGP is a pioneer and leader of the irrigation sector in Morocco. CMGP distributes and installs irrigation systems and pumping stations, earmarked for the agriculture and infrastructure sectors. This comprehensive range of products includes micro-irrigation systems, filtration and fertilization equipment, control and regulation gear, greenhouses, pumps, centre pivots, nets, pipes, sprinklers and drips.
Since its acquisition in 2015, CMGP has significantly grown, with revenues more than doubling across the period. Alongside its new partner DPI, CMGP will continue diversifying its product range and expanding its geographical footprint in Africa. This exit is the first one for Amethis Maghreb Fund I, a EUR 75m fund focused on North Africa.
Laurent Demey, Managing Partner, and Wilfried Poyet, Investment Director at Amethis, declared: “The high quality of CMGP’s work, its solid reputation on the market and its devoted teams allowed the company to reach this new milestone in its development. Amethis is very pleased to have been part of this success story. We hope that this new partnership will be fruitful and we will keep supporting the development of CMGP through the African continent.”
The transaction was led by Wilfried Poyet, Investment Director, for Amethis, and by Sofiane Lahmar, Partner, for DPI.
DPI used Naciri & Associés Allen & Overy as legal advisor and PWC as financial advisor.
Dentons was legal advisor to CMGP
Please click here to read this press release in French.
Amethis is an investment fund manager dedicated to the African continent, with an investment capacity exceeding €600m. Amethis brings growth capital to promising midcap champions in a diversity of sectors throughout the African continent. As an active shareholder, Amethis offers key support and expertise through its international network, its opportunities of external growth and its value-added governance.
- Laurent Demey, Managing Partner: Laurent.Demey@amethis.com
- Wilfried Poyet, Investment Director: Wilfried.Poyet@amethis.com
- Badr Chkiriba, Senior Analyst: Badr.Chkiriba@amethis.com